Principia expands its credit functionality
Principia Partners, a Jersey City-based risk management technology vendor, said it has enhanced the credit derivatives capability of its Principia System front- to back-office product.
Principia said the system also allows for the risk measurement of instruments priced from disparate sources of credit market data. Principia said it ensures that prices are derived from actual and consistent market conditions. The system utilises intensity-based pricing models, which use market-derived default probabilities and recovery rates. Traders and risk managers can define and organise their own credit curves from their specified benchmarks.
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